EFG Asset Management Americas Corp. Sells 3,977 Shares of Thomson Reuters Co. $TRI

EFG Asset Management Americas Corp. decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 23.4% in the second quarter, Holdings Channel reports. The institutional investor owned 13,013 shares of the business services provider’s stock after selling 3,977 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Thomson Reuters were worth $2,617,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC purchased a new stake in Thomson Reuters during the 4th quarter valued at about $448,000. Kestra Private Wealth Services LLC lifted its stake in shares of Thomson Reuters by 36.1% in the first quarter. Kestra Private Wealth Services LLC now owns 8,597 shares of the business services provider’s stock worth $1,485,000 after buying an additional 2,280 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Thomson Reuters during the first quarter valued at approximately $626,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of Thomson Reuters by 1.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 23,568 shares of the business services provider’s stock valued at $4,072,000 after acquiring an additional 383 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Thomson Reuters by 15.7% during the 1st quarter. TD Asset Management Inc now owns 5,514,492 shares of the business services provider’s stock valued at $951,477,000 after purchasing an additional 750,063 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. TD Securities raised Thomson Reuters from a “hold” rating to a “buy” rating and upped their price target for the company from $275.00 to $285.00 in a report on Thursday, August 28th. Royal Bank Of Canada lowered their target price on shares of Thomson Reuters from $208.00 to $182.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $187.00 to $212.00 in a research report on Tuesday, September 9th. Finally, CIBC set a $198.00 target price on shares of Thomson Reuters and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus target price of $195.27.

Thomson Reuters Stock Down 1.0%

TRI opened at $134.31 on Thursday. The firm’s 50 day simple moving average is $154.04 and its two-hundred day simple moving average is $178.21. The company has a market capitalization of $59.99 billion, a PE ratio of 27.47, a PEG ratio of 5.67 and a beta of 0.74. Thomson Reuters Co. has a 1-year low of $132.58 and a 1-year high of $218.42. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its earnings results on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $0.80 EPS. Thomson Reuters’s revenue for the quarter was up 3.4% compared to the same quarter last year. Thomson Reuters has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Thomson Reuters’s dividend payout ratio is currently 61.18%.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.